Will USModular Provide Assistance with Financing a Custom Modular Home in Compton?
Yes! USModular has reputable relationships and partnerships with competitive banks that specialize in the in the custom prefabricated property manufacturing industry. These trusted financiers provide several types of loans, from loans specifically for construction to permanent and mortgage loans.
USModular banks can offer unbeatable finance options for modular new home projects in the local Compton area. Financing options are available for:
- Stated income for self-employed
- Competitive rates for new modular homes
- Loan terms up to 30 years
- Short term construction loans
- Vacation homes
- Competitive rates for new modular homes
USModular works with financiers that recognize and appreciate the efficiency and quality provided to homeowners. These banks stick to our specialized time schedule and will work just as proficiently to get your new modular home project finished promptly!
What are Some Differences Between a Construction Loan and a Mortgage?
A construction loan is a loan in which the loan capital are used to back construction of a home, Professional building, or other building type. Repayment is generally based on contexts that can only occur when the project is being built.
It is because of this that certain parts of the loans are subject to harsher monitoring and more specific restrictions to ensure the project is finished so repayment can begin. Usually, construction loans are short term.
A mortgage is a long term loan established over a period of 15 – 30 years that warrants monthly payments. A mortgage is consists of loan principal and interest, property taxes, and collateral. The house itself is used as collateral in a mortgage.
Visit our site for more information on financing your modular home!
